Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Lagos generates N6.28b from land use charges

22 May 2013, 16:46

Ikeja- The Lagos State Government on Wednesday said that it realised N6.28 billion from land use charges in 2012.

Tokunbo Abiru, the state Commissioner for Finance, announced this in Ikeja at a media briefing to mark Gov. Babatunde Fashola`s sixth year in office.

The News Agency of Nigeria (NAN) reports that the current land use charges were introduced following the harmonisation of the various charges on land in 2001.

The existing charges are the tenement rate, development rate, ground rent and the neighbourhood improvement charge.

"The state realised N6.28 billion from land use charges in 2012.

"The amount is an improvement over the N250 million recorded in 2008.’’

Abiru said that the comprehensive billing approach being adopted by the state government had helped to shore up its revenue profile.

"The adoption of comprehensive billing of enumerated property greatly helped to push up our revenue in 2012.

"Out of a total number of 641 132 property enumerated across the state, 622 155, representing 97 per cent,were billed.

"The outstanding 18 977 billable property, which mainly are raw records yet to be processed, but not exempted from payment are now receiving due attention.’’

The commissioner expressed optimism that more revenues would be earned from land use charges this year going by the records of the Lands Company Ltd.

Abiru appealed to residents to uphold the tradition of paying their land use charges promptly, saying it will enable the government to deliver more dividends of democracy.

On pensions, the commissioner disclosed that N18 billion had been paid by the state government to retirees in the last five years.

Abiru said that N671 million had also been paid by the state`s underwriters as compensation to the dependants of 183 deceased workers.

On the funding of the ongoing projects, he said three tranches of bonds valued at N275 billon had been issued by the state government to finance the projects.

The commissioner, who recalled that the state recorded 89 per cent budget performance in 2012, said the 2013 budget of N499.6 billion was being funded in a bid to achieve set goals.



Read News24’s Comments Policy

Comment on this story
1 comment
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...